A. If the annual gross production value of severed or harvested natural resources within the borough does not equal or exceed the amount of $5,000 annually, the severer or harvester shall be exempt from taxation under this chapter.

B. Severance taxes may be waived for eligible 501(c)(3) organizations upon application to the borough manager. This waiver is available for nonprofit fundraising activities which are related to the use of resources extracted from Kodiak Island Borough lands.

C. The total of exempted severance tax shall not exceed $500.00. [Ord. FY2019-04 §2, 2018; Ord. 91-03 §2, 1991. Formerly §3.26.030].